MBA or MSc?

Question

Hello,

After I am done grad school I would like to work in marketing or human
resources. I have to option of going for my MBA or Master of Science
in Human Relations and Business. Would I really need an MBA if I want
to work in marketing or hr and have no interest of ever going into
IBanking or finance? The MSc would take me only one year to complete,
where's the MBA would take two years, and the tuition fees are much
lower then they are for the MBA. However I would also like to know if my
starting salary with the MSc in Human Relations and Business would be
the same as the salary of a fresh MBA when I start working after grad
school? Right now I have 2 years of work experience post undergrad in
Marketing. My undergrad major is philosophy and I graduated cum laude.

Thanks

truthringer · Answer

In general, I'm not a big fan of the MSc in Human Resources, because it can limit your options. While HR is a vital part of any organization and I think can be a terrific and rewarding career, it can also be the first positions that are cut and right now we're not seeing a lot of hiring in HR (at least in the states). If you think you might have interest in doing marketing, I'd recommend the MBA over the MSc. It will give you more flexibility, more options and higher pay -- this should be a decision made with a long-term view. Unless the MSc program(s) you're looking have terrific job placement, you're very confident about the career track you'd have in HR and are passionate about it, I'd look to expand my options with an MBA. You can always do a rotation in HR and stay there if you like, but when times get tough, you'll have the flexibilty to do other things.

bg1 · Answer

Thanks for your input. This is something new to me. So what your saying
is that if two people had the same position doing the same job at the
same company, and had master degrees from the same school except one hadan MSc in Human Relations and the other had an MBA, that the MBA wouldget paid more just because he has an MBA? If so then how much more would the MBA get paid?

truthringer · Answer

Yes that definitely could be the case -- it happens all the time. It is a matter of opportunity cost. The MBA is a more flexible, powerful degree and as such employers often believe that it merits a higher salary. Naturally the difference in salary is based on myriad factors, but it can often be 10K or even greater. Just take a look at the salaries of graduates from the school who go into HR roles.

MBA or MSc?

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